Asia markets in red tracking global stock selloff and despite strong GDP growth in China

News Snapshot:

Japan (NKY:IND) -1.94%. China (SHCOMP) -1.32%. China's Q1 GDP expands 5.3% Y/Y, beats expectations China: March Industrial output +4.5%y/y (expected +5.4%) Retail sales +3.1% (4.5% exp). The industrial capacity utilization rate in China declined to 73.6% in the first quarter of 2024 from 74.3% in the same period a year earlier. China’s fixed-asset investment rose by 4.5% y/y in January to March 2024, beating market forecasts of 4.3% and up from a 4.2% increase in the previous month. China March new house prices -0.3% m/m (prior also -0.3%). China’s surveyed unemployment rate edged down to 5.2% in March 2024, down...